Nano Global Inc (NNGB)

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News - 8:02pm 08/16/04 NanoSignal Corp

Reliable Sources Acting on Behalf of NanoSignal Corp. Have Notified a Significant Market-Making Firm of Their Awareness of Naked Shorting Being Allowed That Could Exceed the Total Number of Outstanding Shares



LAS VEGAS, NV -- (MARKET WIRE) -- 08/16/04 -- NanoSignal Corp. (OTC: NNOS) has been notified by reliable sources acting on the company's behalf that they believe select dealer market-makers have shorted without able delivery, possibly hundreds of millions of shares of NNOS stock, possibly well over the entire amount of common shares issued and outstanding.

Company management is disappointed that such behavior is not illegal, let alone monitored by the SEC. "This type of activity has caused irreparable damage to over 7,000 small companies that have been shorted out of existence resulting in over 13 trillion dollars taken from investors and small companies like ours who are sincerely endeavoring to bring new technologies to commercialization. As with most small issuers, working capital is obtained through the issuance of equity and with valuations being destroyed many companies and their shareholders become victimized," commented NanoSignal Corp'sChairman Dr. Rupert Perrin. Dr. Perrin continued, "We believe that we will overcome this obstacle and are firmly dedicated to achieving the deployment and commercialization of our Slices(TM) Technology."

About NanoSignal Corp.

NanoSignal Corp. is a medical technology company introducing its patented Slices(TM) technology to the MRI industry, allowing radiologists and technologists to perform advanced imaging features beyond the capabilities of the standard MRI computer.

Information about NanoSignal Corp. is available at www.nanosignalcorp.com.

Contact : [e-mail]

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.

NanoSignal Corp.www.nanosignalcorp.com
Contact: [e-mail]